12 Feb 2020
In a bid to recover debt from Indian tycoon owners of bankrupt companies, creditors are now looking at their personal possessions.
23 Sep 2019
In a concerning turn of events, Thomas Cook, the world's oldest travel company, collapsed on Monday after talks to revive it failed.
12 Jun 2018
Videocon Industries Ltd., with its massive Rs 39,000cr debt, is facing bankruptcy proceedings after the National Company Law Tribunal (NCLT) admitted a plea from lenders last week, led by the State Bank of India.
23 May 2018
Thousands of companies have started paying back their dues to banks and other lenders for fear of action being initiated against them under the Insolvency and Bankruptcy Code (IBC).
21 Mar 2018
The SC has given Jaypee Associates, parent of debt-ridden Jaypee Infratech, till May 10 to deposit Rs. 200cr.
28 Feb 2018
Telecom operator Aircel said it has filed for bankruptcy as it has been facing "troubled times" in "highly financially stressed" industry. The filing was made in National Company Law Tribunal Mumbai.
27 Feb 2018
Even as billionaire Nirav Modi battles allegations of committing India's largest bank fraud of Rs. 11,400cr, his international jewelry brand, Firestar Diamond Inc, has filed for bankruptcy in the US.
19 Feb 2018
It looks like Aircel is in deep water as it's soon going to file for bankruptcy at National Company Law Tribunal (NCLT), according to ET.
21 Dec 2017
Mahesh Bhupathi and Lara Dutta, brand ambassadors of Gitanjali Gems, have taken the company to insolvency as operational creditors.
23 Nov 2017
A day after the Cabinet approved amendments to the Insolvency and Bankruptcy Code (IBC), President Ram Nath Kovind has given assent for the law to go into force.
19 Sep 2017
Retail chains are already reeling from Amazon's aggressive pricing.
21 Aug 2017
India's largest lender SBI is shouldering 27% of the total amount that wilful defaulters owe to the public-sector banks.
24 Jul 2017
Soon, individuals will be able to declare bankruptcy and allowed to repay loans in a planned manner, instead of being forced to pay banks at once.
24 Jun 2017
After pegging down 12 accounts that had racked up 25% or roughly around Rs. 2 lakh crore worth non-performing assets (NPA) in the Indian banking sector, the Reserve Bank of India (RBI) has now given banks a six month time period to resolve 55 cases of bad debt or hand them over for resolution under Insolvency and Bankruptcy Code.
04 May 2017
Puerto Rico filed for bankruptcy at a US Federal Court - making it the biggest debt ever in the US bonds market.
14 Apr 2017
India's insolvency problem with private and public sectors' NPAs is running a tab of Rs. 6 lakh crore.